Chinese giant Tencent has officially announced, LightSpeed Studio, a AAA team that will develop games for the PS5 and Xbox Series X. Information about the new studio was shared back in May by industry veteran Scott Warner, who is the Studio Director, he brings his experience as the Design Director for Halo 4 and Battlefield Hardline at EA Visceral.
I am moving on to a new role. I’ll be the studio director of a new AAA operation in North America for Tencent. We will be hiring for all disciplines at all levels so reach out to me for details.
— Scott Warner (@scottfeed) May 16, 2020
LightSpeed Studio will be located in Los Angeles, along with Warner, Rockstar Veteran Steve Martin will join him in the new project.
Martin will be the Studio Head and the Executive Producer of Development, he affirms in an official statement that LightSpeed Studio will create “a crunch-free and inclusive culture” for its development team.
“We’re ushering a new era of game culture by combining world-class development with a stress-free work environment,” Martin said. “From day one, our teams will be focused on building the highest caliber games while promoting integrity, proactivity, collaboration, and creativity.”
In the report from GamesIndustry, the outlet informs that LightSpeed Studio already counts with a team established by 2K Games, Respawn Entertainment, Insomniac and Rockstar Games veterans, who will produce a new Open-World project for next gen consoles.
To affirm that Tencent is one of the heavyweights in the industry is an understatement, the company has revealed a very successful financial report, managing over$15.3 billion in revenue in the three month period that ended in March 31, 2020.
WeGame, their flagship gaming platforms that features games, content and service from all over the world. WeGame is a platform meant compete withSteam and Epic Games, so far, the service has over 200 million active users. Tencent, also owns 40 percent of Epic Games, while they established a partnerships with NVIDIA to create their own gaming streaming service specifically for China called START.
The Chinese giant has also stated that they’re interested in acquiring IPs from several developers, mostly games with online functionality. The company is known for reaching an agreement with Psyonix in order to offer Rocket League as a free to play game in China. The move has been proved successful as the game reached a large population and cosmetic microtransactions were very profitable for both Tencent and Psyonix.